This is an entire envelope from the issue of 1872 postal stationary. It is the 1 Kr. large shield issue.
The reverse is sealed with a red wax seal with the Hamburg City Coat of Arms. This seems to be some sort of official mail to Munich, but the handwriting baffles me. Can you read what is written on this cover?
You have to give alot of credit to postal workers from all over the world who have to decipher such handwriting. Still, they manage to get the mail to the addressee most of the time.
Nigelc got very close. The address reads "An den Vorstand der / Israelitischen Cultus Gemeinde / München". Perhaps even "Vürstand", an old or dialectal spelling. There is another word at the lower left that is partially obscured by the wax seal. It might be "franco", traditionally used if a letter was fully prepaid, but slowly falling out of use when this became the norm.
"Vorstand" is something like "council", "Gemeinde" is used in the religious sense like "congregation".
The writing is a mix of German and Latin script, viz. the "e" in the first and last words. Foreign words were often spelled in Latin letters even in a German text. I can only guess that after the Latin word "Cultus" the writer just continued in Latin script.
